You begin work on June 1 and work until August 31 and receive pay on the last day of the month. Your expenses for these three months are $1,500/month. At the end of September, you make a $8,000 payment for tuition. Your expenses from September 1 through December 31 are $1,000/month.

If you earn 7% interest, compounded monthly, on the money until it is spent, what monthly salary is required from June 1 through August 31 to break even on December 31? (10 points)

You begin work on June 1 and work until August 31 and receive pay on the last day of the month. Your expenses for these three months are $1,500/month. At the end of September, you make a $8,000 payment for tuition. Your expenses from September 1 through December 31 are $1,000/month. b. If you earn 7% interest, compounded monthly, on the money until it is spent, what monthly salary is required from June 1 through August 31 to break even on December 31? (10 points)